Holy, moly! Virginia Dominion Power is applying to pass along fuel price increases that will increase the average residential electric bill by more than 18 percent, or about $1.1 billion a year. What’s more, the power company wants to collect on fuel costs that previously went unbilled, which would add another $697 million over three years.
Dominion blames the global increases in energy prices, with coal and natural gas figuring most prominently in its fuel mix. If you ever had doubts about nuclear power, you might now change your tune. Without Dominion’s nukes, the fuel adjustment would be far worse.
I don’t have time to get into details today, but I will tomorrow. Dominion Virginia Power kindly granted me a 20-minute interview with President David A. Heacock, so I have some good stuff to share.